New York State Common Retirement Fund lessened its position in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 585,400 shares of the company’s stock after selling 19,000 shares during the period. New York State Common Retirement Fund’s holdings in Robinhood Markets were worth $5,684,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of HOOD. TB Alternative Assets Ltd. raised its stake in Robinhood Markets by 12.7% in the first quarter. TB Alternative Assets Ltd. now owns 2,521,200 shares of the company’s stock valued at $24,481,000 after buying an additional 283,600 shares during the period. Strs Ohio grew its stake in shares of Robinhood Markets by 10.5% in the first quarter. Strs Ohio now owns 89,530 shares of the company’s stock valued at $869,000 after acquiring an additional 8,511 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Robinhood Markets by 18.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 24,315,031 shares of the company’s stock worth $236,099,000 after acquiring an additional 3,721,835 shares during the period. Machina Capital S.A.S. acquired a new stake in Robinhood Markets in the 1st quarter worth about $67,000. Finally, Perfromance Wealth Partners LLC acquired a new stake in Robinhood Markets in the 1st quarter worth about $97,000. 59.78% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Robinhood Markets from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, July 13th. Citigroup boosted their target price on shares of Robinhood Markets from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday. JMP Securities reiterated a “market outperform” rating and set a $25.00 price target on shares of Robinhood Markets in a research report on Friday, June 30th. KeyCorp upped their price objective on Robinhood Markets from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Piper Sandler boosted their target price on Robinhood Markets from $11.00 to $11.50 and gave the stock a “neutral” rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.59.
Robinhood Markets Price Performance
Shares of NASDAQ HOOD opened at $11.28 on Friday. The company has a 50 day simple moving average of $10.79 and a 200 day simple moving average of $9.94. Robinhood Markets, Inc. has a 1 year low of $7.57 and a 1 year high of $13.23. The firm has a market cap of $10.19 billion, a PE ratio of -12.13 and a beta of 1.30.
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.05. Robinhood Markets had a negative net margin of 49.58% and a negative return on equity of 11.84%. The firm had revenue of $486.00 million during the quarter, compared to the consensus estimate of $472.94 million. During the same quarter last year, the firm earned ($0.34) earnings per share. The company’s revenue for the quarter was up 52.8% on a year-over-year basis. As a group, research analysts anticipate that Robinhood Markets, Inc. will post -0.6 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $9.11, for a total value of $113,875.00. Following the sale, the insider now owns 544,962 shares in the company, valued at approximately $4,964,603.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Robinhood Markets news, insider Baiju Bhatt sold 96,472 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $9.52, for a total transaction of $918,413.44. Following the sale, the insider now owns 821,665 shares of the company’s stock, valued at $7,822,250.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $9.11, for a total value of $113,875.00. Following the completion of the transaction, the insider now directly owns 544,962 shares of the company’s stock, valued at $4,964,603.82. The disclosure for this sale can be found here. Insiders sold a total of 558,475 shares of company stock valued at $5,831,232 in the last three months. Insiders own 20.81% of the company’s stock.
Robinhood Markets Profile
Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), options, gold, and cryptocurrencies. The company provides various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is an online collection of beginners’ guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron’s, Reuters, and Dow Jones; Snacks, an accessible digest of business news stories for new generation of investors.
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